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Powder Inc. sells an Xpert snowboard that is popular with snowboard enthusiasts. The following information shows Powder's purchases and sales of Xpert snowboards during November:
Powder Inc. sells an Xpert snowboard that is popular with snowboard enthusiasts. The following information shows Powder's purchases and sales of Xpert snowboards during November: (a) Your answer is partially correct. Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a perpetual inventory system. (Round FIFO answers to 0 decimal places, eg. 5,275 and Average cost answers to 2 decimal places, eg. 5,275.25. Do not round intermediate calculations.)
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